Posts Tagged ‘budget’

A Practical Guide to Hotel Marketing Budget Planning:

Wednesday, September 1st, 2010

For the success of your hotel business, it is necessary to write a hotel marketing plan. Your professional hotel marketing plan must contain all the relevant information regarding your product or services, target market, target audience and competitors. We can say that marketing plan is one of the most important sections of the business plan. It tells the entrepreneurs where they are and where they want to go.

Your hotel marketing plan must include the following key components:
•    An Executive Summary
•    Business Overview
•    Location, Business Concept
•    Sample Menu
•    Layouts and Design
•    Market Strategy
•    Competitive Analysis
•    Industry Assessment
•    Marketing Strategy
•    Budget
•    Management Team
Planning budget is the most important part of any hotel marketing plan. Following are some factors a marketing plan writer must consider, while planning hotel marketing plan budget:
Start with internet marketing: Internet is the easiest way to market your company and your product. If you do not have enough budget for other marketing strategies you can easily create a website that contains all information about your company and product.
Remember your crucial business goals: Knowing your important hotel business goals helps you to generate large amount of profits.
Be aware of changing trends: Avoid making long term goals. The world is changing rapidly. Review your hotel marketing plan at least once in a year.
Marketing cost categories: Divide your marketing costs into two parts:
Initial development costs: This cost contains:
•    Research development
•    Content creation
•    Website design
•    Marketing systems set up
Ongoing expenses and maintenance: This includes:
•    E-Mail marketing
•    Search visibility improvement
•    Pay per click advertisement
•    Consulting fees
•    Analytics and tracking analysis
•    Website maintenance and development
Most important hotel marketing budget categories:
•    Staffing expenses
•    Training fees
•    Consulting fees
•    Website optimization
•    Search visibility improvement
•    E-mail communications
•    Media production
•    Content development
•    Press relations & media outreach
Below are three marketing budgeting approaches:
•    Increase overall sales
•    Build your brand
•    Save profit
Above are some factors a marketing plan writer should consider, while planning hotel marketing plan budget. Making budget for your professional hotel marketing plan is one of the most important tasks. One should be very careful when making budget for his hotel marketing plan.
You can easily take help from the marketing plan writing services in order to have a successful marketing plan. BizPlanCorner.com is a helpful site that provides you the solutions to your business problems 24/7. At BizPlanCorner.com we provide a good quality marketing plan, which is written by our professional marketing plan writers.

Are All Budget Web Hosting Plans the Same?

Tuesday, August 24th, 2010

The process of selecting the company that would be handling your web hosting needs could somehow be overwhelming. As a matter of fact, the process of choosing any kind of web hosting company is a challenge because there are just so many of them in the market today.

Budget web hosting is basically any web hosting service, which costs less than $10 monthly. And most of the companies, which offer this, are only able to provide one-year plans. A lot of budget web hosting companies though would give you a quote for the monthly fee that you need to pay by dividing the annual fee by twelve. Make sure that you remember that as you do your comparison of budget web hosting companies. You would then have to check if they charge a setup fee before getting started.

As you evaluate these budget webhosting companies, you can start by viewing their front page. Their front page should be a reflection of their company and services. Make sure that it looks professional enough and that it contains all the information that you would be needing. Check if the contact information can easily be located as well.

You also need to make sure they have a support number, which is toll-free, so that you need not pay any long-distance charges for any assistance that you might be needing. Having a toll-free number would reflect their willingness to help out customers in anything they need.

Aside from these, check if they offer a good satisfaction guarantee. You would also need to make sure that they offer a good uptime guarantee, as this would be very important to the website you would be running.

Finance Minister Announces Special Fund for MSMEs in Budget 2009

Monday, July 19th, 2010

Finance Minister Pranab Mukherjee (in pic), presenting the Union Budget 2009-10 on July 6, has given some respite to the MSME sector. Acknowledging that the slowdown in exports due to the global demand slump has hit small and micro units the hardest, the minister has proposed the formation of a special fund for the sector.

The proposed fund, worth Rs 4,000 crore,will be formedout of the Rural Infrastructure Development Fund (RIDF) and provided to the Small Industries Development Bank of India (SIDBI).

This fund is expected to incentivise banks and State Finance Corporations (SFCs) to extend loans to MSMEs by refinancing 50% of incremental lending to these players during 2009-10. According to the minister, this move will facilitate credit flow at affordable rates for MSMEs and thereby provide them the much-needed fiscal support.

The announcement of the proposed fund has lifted the spirits of the MSME segment. “For several months we have seen suffering due to the credit crunch. We hope that with the formation of this fund we will be able to get adequate funds to revive our business,” said GC Ghosh, proprietor of Radha Export International, a small-sized basmati rice exporting company in Kolkata.

CII praises budget

The Confederation of Indian Industry (CII) has appreciated the budgetary initiatives taken by the Finance Minister for boosting the MSME sector. The apex industry body has also lauded the minister for the focus on growth, investments and infrastructure in the Budget.

The CII believes that the provisions for the small players in the Budget will not only benefit them in the near term but over a period of time. Furthermore, it will help the small industries become more competitive and strengthen their foothold in the domestic as well as the international markets.

“The Budget clearly shows that the government has realised that small firms like ours are in dire straits. Although many banks have lowered their prime lending rates (PLRs) in the recent past, we need more funds to sustain our business. Hence, the special fund announced in the Budget will be of immense help to us,” said V Sharma, proprietor of All India Plastic Products, a small-sized Plastic Products Manufacturers firm in New Delhi.

Going by the positive reactions of the CII and small entities, it seems, at least for now, that the Finance Minister has been able to address the grievances of MSMEs well.

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